Palmdale Chapter 13 Lawyer

Do You Need a Chapter 13 Bankruptcy Attorney?

It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.

Chapter 13 Bankruptcy Lawyers Near Me in Palmdale CA

Experienced, professional bankruptcy attorneys understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.

Free Bankruptcy Consultation – Call Now (855) 997-4655

Los Angeles County Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Los Angeles and the surrounding areas.

More About Hiring a Chapter 13 Bankruptcy Attorney in Palmdale CA

You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.

A Second Chance

Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.

Best Bankruptcy AttorneyIn Chapter 13 bankruptcy, you propose a repayment strategy to your lenders, and it generally lasts three to five years. It uses to pay all or part of your debt from any future income you earn. You can use Chapter 13 to make up missed out on vehicle payments, repay taxes you owe, avoid a bank from foreclosing on your house, keep non-exempt property that you deem important, stop interest from gaining on your tax debt, and much more. When you follow the terms of your contract to repay your debts, all of your staying dis-chargeable debts would be launched at the end of the payment period. The monetary amount designated to lenders under a Chapter 13 bankruptcy should be equal to the amount they would have gotten if a Chapter 7 bankruptcy had been submitted. To file Chapter 13 bankruptcy, you should have a “routine income” and disposable income to use to your payments. Especially when you live in Palmdale CA or in a nearby city.

Usually, a chapter 13 bankruptcy is utilized when you wish to keep safe possessions, such as a car or home, where you have more equity in the protected properties that you can protect by using your bankruptcy exemptions. It’s a reorganization of the debts you owe your financial institutions that are not non-dischargeable debts.

A Chapter 13 bankruptcy permits you to make up your overdue payments with time and to renew your initial repayment contract. It might also be a much better choice when you have a valuable non-exempt home that you want to keep. To keep a non-exempt property, you should pay the financial institution for the value of the property.

An exemption limitation would apply to any equity you have in the property. Equity is simply a difference in between the value of the home and exactly what you owe on it. For example, if you have actually a truck valued at $10,000 with a loan of $8,500, the truck only includes equity of $1,500. When you have a residential or commercial property that is held by a loan, the equity you own in that property is covered by your exemptions. That is if you are updated on your payments. Also, if you choose to keep making your typical payments on the loan, you can keep the property throughout and after your bankruptcy term is total. If the equity is not covered by your exemptions, your creditor might choose to sell that property then disperse the cash arising from the sale. In this case, you would be entitled to the value of your exemption in the sold-off asset as a cash payment. Existing bankruptcy laws permit a married couple filing together to each claim a full set of exemptions, indicating more home can be secured. All of this is common in California and throughout the region, and remember, the time to do something is now.

The non-dischargeable debts you can not eliminate in bankruptcy consist of financial obligations for individual injury/death triggered by DWI/DUI, back child assistance, spousal support, debts associated with household support, student loans, income tax financial obligations within the last three years along with other tax debts, penalties for traffic tickets, criminal restitution, and any financial obligations you forget to list in your bankruptcy papers, unless you inform the financial institution of your bankruptcy case. Besides those non-dischargeable financial obligations, whatever else included in your bankruptcy case will be released at the end of your decided upon bankruptcy duration.

Learn More About Palmdale CA

Services We Offer

Chapter 7 Bankruptcy

Chapter 13 Bankruptcy

Chapter 11 Bankruptcy

Stopping Foreclosures

Emergency Filings

Map of Palmdale CA

Our Address

The Bankruptcy Experts
1605 W. Olympic Blvd. Suite 1024
Los Angeles, CA 90015

Office Hours

Monday – Friday: 8:00am – 6:00pm

Saturday: 10:00am – 4:00pm

Sunday: Closed

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